Axos Bank Provides $7.75M Refinance Loan To Mohammed Naeem For Retail Asset In Brooklyn
FINANCED
$7,750,000
New York
See Similar DealsRetail
Financed 02/05/2026
FINANCED
Axos Bank Provides $7.75M Refinance Loan To Mohammed Naeem For Retail Asset In Brooklyn
948 Myrtle Avenue
See Similar DealsRetail
Financed 02/05/2026
Summary
NEW YORK
Asset Type:Retail
Transaction Type:Loan
The asset involved in this transaction is a retail property located at 948 Myrtle Avenue in Brooklyn. The loan amount secured for this property is $7,750,000, and the type of loan is a refinance.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $7,750,000
- Lender: Axos Bank
- Landlord: Mohammed Naeem
- Brokers: David Bollag & James Darling - Meridian Capital Group
- Date: 2/5/2026
The key individuals involved in this transaction include David Bollag and James Darling, who are representatives from Meridian Capital Group, facilitating the refinancing process for the landlord, Mohammed Naeem.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$7,750,000.00
Monthly NOI$51,666.67
Monthly Debt Service$48,985.27
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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